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How does the Navy Checking Line of Credit report to the CBs? Or does it even report?
If it reports, I assume it would have to be considered revolving and would then help out UT %s if it goes unused.
Does there have to be some balance on it to initially get it to report or will it simply report $0 balance with $15k limit the first month and every month thereafter?
@IodineNightSky wrote:How does the Navy Checking Line of Credit report to the CBs? Or does it even report?
If it reports, I assume it would have to be considered revolving and would then help out UT %s if it goes unused.
Does there have to be some balance on it to initially get it to report or will it simply report $0 balance with $15k limit the first month and every month thereafter?
It reports as a revolving loan, and has the same effect a credit card does. Instead of reporting the balance as of the statement date, though, it reports the balance as of the 1st of the month.
20 months later and mine is still somehow a hidden tradeline. Maybe I'll give it another 6 years or so until it matches my AAoA to mention the fact. But yes, if it did report it would be factored in as a revolving line of credit.
It reports as a revolving loan, and has the same effect a credit card does. Instead of reporting the balance as of the statement date, though, it reports the balance as of the 1st of the month.
Mine closes the 27th I just dont go CRAZY and buy a motorcycle in those 2-4 days from when it reports on the 1st of the following months :-p